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Transactions - MARCH 25, 2020

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Boston tower sells for more than $600m

by Andrea Zander

Institutional investors advised by J.P. Morgan Asset Management and Oxford Properties Group have sold the leasehold interest in 60 State St. in Downtown Boston. The new buyer is Starwood Real Estate Income Trust, Inc., a nontraded REIT managed by Starwood Capital Group, and the sales price was estimated to be $613.4 million.

The 38-story office/retail tower and associated 240-space parking garage comprises 911,394 square feet of office and retail space. It is anchored by law firm WilmerHale, asset manager Amundi Pioneer, advertising technology solutions provider Criteo and asset manager BlackRock. The retail component is highlighted by a brand-new, three-level Samuel Adams Tap Room, which opened earlier this year. The building also features the iconic State Room event space on Floors 33 and 34.

Situated in the heart of Downtown Boston, 60 State St. features direct, onsite

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